Globalstar Plans to File
For Chapter 11 Protection

Globalstar Telecommunications Ltd., after months of trying to avoid a bankruptcy filing, said it hopes to file a voluntary Chapter 11 financial-restructuring plan within days or weeks.

Subject to successful negotiations with creditors, the satellite-telephone service provider's debt would be converted to equity positions in a new Globalstar company. Globalstar, which had said its cash reserves were sufficient to continue operations...